Haier New York Life Insurance approved to set up Jinan branch

Nov. 20, 2008 (China Knowledge) - Haier New York Life Insurance Co has won the approval from the China Insurance Regulatory Commission (CIRC) to set up a new branch in Jinan, Shandong Province, according to sources.

The establishment of Jinan branch should be completed within up to six months after getting the regulatory approval.

The insurance company, a 50-50 joint venture between New York Life and China's top home appliance maker Haier Group, currently has branches in Shanghai, Chengdu, Qingdao, Nanjing and Wuhan, and reaped RMB 305.2 million in premium income over the first nine months this year.